Shopify (NYSE:SHOP) PT Raised to $1,127.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target increased by analysts at Goldman Sachs Group from $786.00 to $1,127.00 in a note issued to investors on Monday, The Fly reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Goldman Sachs Group’s price objective would suggest a potential upside of 18.73% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Barclays upped their price objective on shares of Shopify from $410.00 to $725.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. KeyCorp restated an “overweight” rating and issued a $1,000.00 price objective (up previously from $805.00) on shares of Shopify in a research report on Wednesday, June 24th. They noted that the move was a valuation call. Credit Suisse Group restated a “neutral” rating on shares of Shopify in a research report on Thursday, May 21st. Pi Financial reiterated a “buy” rating and set a $830.00 target price on shares of Shopify in a report on Monday, May 4th. Finally, Canaccord Genuity increased their target price on Shopify from $650.00 to $700.00 and gave the stock a “hold” rating in a report on Thursday, May 21st. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $687.81.

SHOP stock opened at $949.20 on Monday. The business’s fifty day moving average is $796.28 and its 200-day moving average is $550.40. The company has a quick ratio of 9.45, a current ratio of 9.45 and a debt-to-equity ratio of 0.04. The company has a market cap of $108.16 billion, a P/E ratio of -818.28 and a beta of 1.53. Shopify has a twelve month low of $282.08 and a twelve month high of $958.76.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.70) by $0.89. Shopify had a negative return on equity of 2.56% and a negative net margin of 7.65%. The company had revenue of $470.00 million for the quarter, compared to the consensus estimate of $442.92 million. During the same quarter in the prior year, the business posted $0.09 EPS. The firm’s quarterly revenue was up 46.6% on a year-over-year basis. Research analysts anticipate that Shopify will post -1.63 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Squar Milner Financial Services LLC lifted its position in Shopify by 102.5% during the first quarter. Squar Milner Financial Services LLC now owns 81 shares of the software maker’s stock worth $33,000 after acquiring an additional 41 shares during the last quarter. Key Financial Inc bought a new position in shares of Shopify during the first quarter worth approximately $34,000. PrairieView Partners LLC bought a new position in shares of Shopify during the first quarter worth approximately $38,000. PSI Advisors LLC bought a new position in shares of Shopify during the fourth quarter worth approximately $39,000. Finally, Procyon Private Wealth Partners LLC bought a new position in shares of Shopify during the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 60.27% of the company’s stock.

About Shopify

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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